Wheat futures rose above $5.9 per bushel in mid-June, climbing off a recent two-month low, as US supply concerns intensified following a fresh downgrade to the winter wheat crop outlook. The USDA cut its US winter wheat outlook by 2% from a month earlier as a harsh Plains drought pushed hard red winter wheat production to its lowest level since 1957, while crop conditions deteriorated further with just 25% rated good-to-excellent, the weakest for this time of year on record. The decline in US output has tightened supply expectations, even as harvest activity gets underway across key growing states including Kansas, Oklahoma and Texas. El Niño weather risks continued to underpin prices, raising the threat of droughts, floods and temperature extremes across major global growing regions. The drop in output has also added pressure on US farmers already facing higher fuel and fertilizer costs, driven by disruptions in the Strait of Hormuz and trade tensions stemming from US tariff measures.

Wheat fell to 584.50 USd/Bu on June 12, 2026, down 0.38% from the previous day. Over the past month, Wheat's price has fallen 13.47%, but it is still 7.49% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Wheat reached an all time high of 1350.00 in March of 2022. Wheat - data, forecasts, historical chart - was last updated on June 14 of 2026.

Wheat fell to 584.50 USd/Bu on June 12, 2026, down 0.38% from the previous day. Over the past month, Wheat's price has fallen 13.47%, but it is still 7.49% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Wheat is expected to trade at 586.83 USd/BU by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 635.41 in 12 months time.



Price Day Month Year Date
Soybeans 1,113.50 -1.50 -0.13% -9.40% 4.09% Jun/12
Wheat 584.50 -2.25 -0.38% -13.47% 7.49% Jun/12
Lumber 623.50 4.00 0.65% 5.68% -0.40% Jun/12
Cheese 1.62 -0.0030 -0.19% -4.04% -16.32% Jun/12
Palm Oil 4,475.00 -76.00 -1.67% 0.83% 13.95% Jun/12
Milk 15.99 -0.03 -0.19% -6.44% -14.72% Jun/12
Cocoa 3,868.00 70.00 1.84% -11.95% -60.49% Jun/12
Cotton 76.42 0.060 0.08% -11.97% 16.91% Jun/12
Rubber 224.40 1.80 0.81% 1.17% 38.78% Jun/12
Orange Juice 163.30 -2.50 -1.51% -14.64% -40.42% Jun/12
Coffee 253.40 3.15 1.26% -9.74% -27.44% Jun/12
Oat 306.00 -9.5000 -3.01% -16.68% -20.83% Jun/12
Wool 1,979.00 15.00 0.76% 4.93% 65.33% Jun/12
Rice 12.04 -0.1650 -1.35% -5.05% -12.56% Jun/12
Canola 765.90 -7.10 -0.92% 2.42% 4.73% Jun/12
Sugar 13.70 -0.09 -0.65% -10.92% -14.84% Jun/12
Corn 412.75 1.0000 0.24% -14.14% -7.14% Jun/12



Related Last Previous Unit Reference
United States Corn Stocks 9.02 13.28 Billion Bushels Mar 2026
United States Soybean Stocks 2.10 3.29 Billion Bushels Mar 2026
United States Wheat Stocks 1.30 1.68 Billion Bushels Mar 2026

Wheat
Wheat is one of the most important staple crops globally, serving as a key source of food for human consumption and animal feed. Its prices are closely monitored due to their impact on food security, inflation, and global trade flows. Wheat futures are traded on major exchanges, including the Chicago Board of Trade (CBOT), Euronext, Kansas City Board of Trade (KCBT), and the Minneapolis Grain Exchange (MGEX). Standard contracts typically represent 5,000 bushels. On the supply side, China, India, Russia, the United States, France, Australia, and Canada are among the largest producers globally. Russia is the leading exporter, followed by the United States, Canada, France, Ukraine, Australia, and Argentina. Prior to the Russian invasion of Ukraine, Russia and Ukraine together accounted for a significant share of global wheat exports. Wheat prices displayed on Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments and are intended to provide a general market reference only. These prices do not represent official benchmark prices. The data is supplied by a third party and, while efforts are made to ensure its reliability, Trading Economics does not verify the data and makes no representations or warranties.
Actual Previous Highest Lowest Dates Unit Frequency
584.50 586.75 1350.00 212.50 1977 - 2026 USd/BU Daily

News Stream
Wheat Rises on USDA Supply Cut
Wheat futures rose above $5.9 per bushel in mid-June, climbing off a recent two-month low, as US supply concerns intensified following a fresh downgrade to the winter wheat crop outlook. The USDA cut its US winter wheat outlook by 2% from a month earlier as a harsh Plains drought pushed hard red winter wheat production to its lowest level since 1957, while crop conditions deteriorated further with just 25% rated good-to-excellent, the weakest for this time of year on record. The decline in US output has tightened supply expectations, even as harvest activity gets underway across key growing states including Kansas, Oklahoma and Texas. El Niño weather risks continued to underpin prices, raising the threat of droughts, floods and temperature extremes across major global growing regions. The drop in output has also added pressure on US farmers already facing higher fuel and fertilizer costs, driven by disruptions in the Strait of Hormuz and trade tensions stemming from US tariff measures.
2026-06-12
Wheat Futures Rise on El Niño Weather Risks
Wheat futures rose above $5.90 per bushel in early June, staying away from a near two-month low touched on June 5, as the emergence of El Niño heightened concerns over global crop risks. The climate phenomenon, which has taken shape across the equatorial Pacific and expected to intensify in the months ahead, is likely to unleash droughts, floods, and temperature extremes that could disrupt production of key commodities, including wheat. Its impacts are also projected to intensify globally, including a wetter-than-usual winter in the southern US, drought and wildfire risks in Australia, and potential disruptions to the Atlantic hurricane season. Additional support came from short-covering and bargain hunting ahead of the USDA’s closely watched June supply-and-demand report due on Thursday, as investors monitored signs of renewed Chinese purchases of US agricultural products following Beijing’s pledge last month to buy $17 billion worth of US farm goods.
2026-06-10
Wheat Futures Fall to Near 2-Month Low
Wheat futures fell to around $5.80 per bushel in early June, hitting their lowest level since April 10, as a strong global supply outlook and subdued demand continued to weigh on prices. In Ukraine, agricultural consultancy APK-Inform raised its forecast for wheat production to 21.7 million tons from 19.9 million tons, while Russia's IKAR consultancy increased its estimate to 91.5 million metric tons from 90 million tons. Elsewhere, recent rainfall across large areas of previously parched farmland in Australia improved planting conditions and encouraged late wheat sowing. In the US, improved soil moisture in drought-stricken wheat-growing regions, together with the advancing winter wheat harvest, added to expectations of robust supplies. Meanwhile, heavy and persistent rainfall across major wheat-producing areas in China raised concerns about crop quality and harvest disruptions, but the adverse weather had been largely anticipated, and any resulting damage was expected to be limited.
2026-06-08